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Multi-million pound Gleneagles sale moves a step closer

General view of Gleneagles Hotel.
General view of Gleneagles Hotel.

Gleneagles Hotel could soon be in new hands, after it emerged that owner Diageo is mulling two firm bids for the five-star Perthshire resort.

One of the suitors is understood to be KSLCapital Partners, aUS-based private equity firm that owns The Belfry.

The identity of thesecond bidder was unknown.

Gleneagles was quietly placed on the market by Diageo in the aftermath of last September’s Ryder Cup, which gave the venue money-can’t-buy global television exposure.

The Courier reported this year Diageo hopes to clear in excess of £200 million from the sale of the hotel and its associated 850-acre estate, though a price tag was not made public.

It is understood thatColorado-based KSLCapital has made an offer in the region of £150m.

The Courier attempted to contact the firm last night but there was no immediate response to the query.

A spokesman forDiageo said: “We are sure there are manypeople who would love to own Gleneagles andhave received numerous expressions of interest over the years and particularly since the Ryder Cup.

“As you would expect, we have a duty to consider such interest carefully and we are reviewing options with parties. These discussions may or may not lead to a sale of Gleneagles.”